Chase Sapphire Reserve Plan

[Anonymous]

Hello,

Currently, I'm working toward getting a Chase Sapphire Reserve. I just got a new job, and between all work travel being reimbursed and that card, I'll be sitting really well when it comes to rewards and perks. Per some people's recommendations here when I was looking at another card, I did the creditchecktotal thing today and came back with scores as follows:

Experian: 739

Transunion: 728

Equifax: 750

Needless to say, these scores are significantly higher than any fakos I've looked at so I was pleasantly surprised. Anyway, my question is this. I know these factors matter for Chase...I have four recent inquiries into Experian (1 into TU, 1 into Equifax) and a recent denial from Chase (I applied back in May hoping to get my first CC from them). I also have a small credit history, one account open in May, one in June. With all of this said, do you think it'd be worth applying for the Reserve around January of 2019 when I'm hoping to? I know that'll push the inquiries out and lengthen the credit history. Or do you think I should wait even longer than that to apply? Thanks for your replies, and really enjoying everything I'm learning here so far.

[Anonymous]

Are you near a Chase branch?  If you are, I'd suggest going in and opening a checking and/or savings accounts.  They are currently offering bonuses of $350 and you will also build your internal Chase score which makes it more likely you will be approved for their credit products despite your short credit history.

[Anonymous]

Unfortunately, I'm in Massachusetts (I still love you Massachusetts) so we have 0 Chase branches. 

[Anonymous]

I don't think you have a shot if you apply in January. That will make your oldest account only 8 months old. It's often talked about here that you need at least a year before you get a Chase approval. Also you need to be approved for a minimum of a 10K limit on the CSR. SInce you say you have such a short history I'm assuming you don't currently have a card with a limit like this. You'll probably need to get at least one card with a limit like this before you can get the CSR. 

[Anonymous]

My June application was a Capital One Venture that approved right at 10,000. I wouldn't be completely averse to waiting until this time next year to apply though, either, especially if it meant my chance of approval would go way up. For now the Venture does a solid job because I always have travel to redeem on it.

[xaximus]

Personally - I would wait it out till the same time next year. This will help your AAoA and also, your oldest account will be well over a year old then. Chase is pretty strict on their 1 year policy especially for their top tier cards. Keep in mind, the CSR has a $450 AF. There is also a CSP that I would look into, but if you can get more value out of the CSR, I would go for that.

[Lemark]

MaizeandBlue is correct. Having a checking and savings or some prior relationship with Chase help. Initially got denied with Chase a few years back, visited a friend in Michigan since my location didn't have any, opened checking and savings and in about 4 months when I applied for Chase FU I got approved but other factors like income may have helped as well. Sometimes Chase want's you to start with a non-premium card to build history with a certain SL before they go with the CSR which starts higher. All the best!